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The IRS issued Revenue Ruling 2023-2, which had a substantial impact on estate planning, particularly where an irrevocable trust is involved. In the last decade or so, more families have begun utilizing irrevocable trusts to protect their assets from spend-down in order to qualify for government benefits, such as Medicaid and VA Aid and Attendance.<br/><br/>Prior to the issuance of this ruling, it was unclear whether assets passing to beneficiaries through an irrevocable trust would receive a step-up in basis, thereby eliminating any capital gains taxes that would otherwise be owed. Historically, assets that are disposed of during an individual’s lifetime are subject to capital gains taxes on the increase in value of that asset over time. The amount of capital gains owed is determined largely by the difference between the value at the time of purchase and the value at the time of transfer.

IRS Quietly Changes The Rule On How Your Children’s Inheritance Will Be Taxed

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HowToWith GEO

How to get IRS Tax Forms

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Jason D. Knott

IRS Form 8962 Premium Tax Credit and the IRS Form 1095-A

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In this video, watch as Andee guides you through the steps to create a delicious Green Goddess Pasta Salad! Packed with vibrant flavors and wholesome ingredients, this recipe is perfect for a refreshing meal or a delightful side dish. Learn how to blend fresh herbs, garlic, and creamy dressing to seriously improve your pasta salad options. So follow along as we showcase easy-to-follow instructions and tips for a satisfying culinary experience.

How to Make Green Goddess Pasta Salad

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Kevin Knauss

2019 IRS Health Insurance Premium Tax Credit Reconciliation

⏲ 8 minutes 21 seconds 👁 6.4K

Fundera by NerdWallet

How to Fill out IRS Form 2553: Easy-to-Follow Instructions

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<br/>Follow instructions and help make the voting process for the Kuala Kubu Baharu by-election a smooth and orderly one, says Datuk Seri Saifuddin Nasution Ismail.<br/><br/>The Home Minister and PKR secretary-general told reporters on Monday (May 6) that the public should trust that the Election Commission (EC) would ensure a smooth process during Tuesday's early voting and polling on May 11.<br/><br/>Read more at https://tinyurl.com/y2dnyaya<br/><br/>WATCH MORE: https://thestartv.com/c/news<br/>SUBSCRIBE: https://cutt.ly/TheStar<br/>LIKE: https://fb.com/TheStarOnline<br/>

KKB polls: Trust EC to ensure smooth voting process, says Home Minister

⏲ 1:1 👁 13.1M

Teach Me! Personal Finance

IRS Form 8697 walkthrough (Interest Computation Under the Look-Back Method for Completed Contracts)

⏲ 21 minutes 24 seconds 👁 166

Taxpro Serge

Remove IRS Tax Penalties step by step guide IRS Form 843, IRS Penalty Abatement Form

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During a House Appropriations Committee hearing on Tuesday, Rep. David Joyce (R-OH) gave opening remarks about the IRS and its FY2025 budget request. <br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/><br/>Stay Connected<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com

David Joyce Calls On Congress To Ensure IRS & Other Agencies 'Do Not Unfairly Target Americans’

⏲ 2:31 👁 1.4M

Teach Me! Personal Finance

IRS Form 2848 walkthrough (Power of Attorney and Declaration of Representative)

⏲ 25 minutes 49 seconds 👁 238

Jason D. Knott

How to File Form 8962 for Premium Tax Credit. Step-by-Step Guide for 2023

⏲ 17 minutes 47 seconds 👁 5K

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